Vietnam news in brief - March 5

ACV invests $74.2 million to upgrade Dong Hoi Airport

Rendering of Dong Hoi airport after expansion. Photo: ACV

On 4 March, the Quang Binh People's Committee and the Airports Corporation of Vietnam (ACV) signed an agreement to build Terminal 2 and expand the apron at Dong Hoi Airport. The aim is to increase the airport's capacity to three million passengers per year, a significant increase from the current 0.5 million. The project has a total investment capital of over VND1.84 trillion ($74.2 million), sourced from ACV.

The expansion of the apron is scheduled to start in August and to be completed by March 2025. Construction of Terminal 2 is scheduled to start in October and be concluded by March 2026.

Quang Nam to invest nearly $68.6 million to preserve Hoi An

The central province of Quang Nam has submitted a VND1.67 trillion ($67.4 million) project to the Ministry of Culture, Sports and Tourism to preserve and promote the heritage value of Hoi An Ancient City, with the aim of making Hoi An an attractive tourist destination in the world. Of the nearly VND1.7 trillion ($68.6 million) investment, central funds, the province and Hoi An Ancient City will contribute VND1.47 trillion ($59.3 million), while the remaining VND200 billion ($8 million) will come from ODA.

The province will restore and upgrade all classified but deteriorating relics, improve museums, theatres, resting places, libraries and traditional exhibition spaces. Intangible and valuable archival heritage will be inventoried and managed through scientific documentation and conservation.

Thai group to invest in 1,200-hectare industrial park in Vung Tau

Thailand's WHA is seeking approval to invest in a smart eco-industrial park in the southern province of Ba Ria-Vung Tau. Covering an area of 1,200 hectares, the industrial park will be the second largest project in the city after the Chau Duc Industrial Park (more than 1,500 hectares). WHA Group, which has been operating in Vietnam since 2017, implemented its first project in Nghi Loc District in the central province of Nghe An, with an area of nearly 1,900 hectares. According to the group's representative, its five-year goal is to invest at least US$1 billion to develop smart, ecological industrial parks in Vietnam.

 Vietjet will start direct flights between Hanoi and Hiroshima on May 12 

Vietjet is set to start flying direct between Hanoi and Hiroshima on May 12. Photo: hanoimoi newspaper

Vietjet has announced the launch of direct flights between Hanoi and Hiroshima (Japan). The new route will start on May 12 with two round trips per week on Thursday and Sunday, each taking more than four hours. The flight will depart Hanoi at 6:00 (local time) and arrive in Hiroshima at 12:30 (local time). The return flight leaves Hiroshima Airport at 13:30 (local time) and lands at Noi Bai Airport at 16:20 (local time).

Foreign suppliers pay over $81.8 million in taxes in Jan-Feb

The General Department of Taxation reported that the total tax value paid by foreign suppliers such as Meta, Microsoft, Google, Apple and TikTok in the first two months of 2024 was more than VND2.03 trillion (US$81.8 million). To date, 84 foreign suppliers have registered and received tax identification numbers through the electronic portal. Among them, 67 foreign suppliers have declared and paid taxes in accordance with the law. In 2023, the total amount of taxes paid by 74 foreign suppliers was over VND8 trillion ($322.5 million).

Vietnam ranks 2nd among the world's top 8 smartphone exporting countries

According to The Hindu, Vietnam has become the world's second largest smartphone exporter with a market share of 11.9%. The country has continuously promoted smartphone exports for many years, attracting many major smartphone manufacturers looking to reduce their dependence on China. Vietnam's incredible rise can be attributed to the rapid growth of the smartphone market in the US. From 2018 to 2022, Vietnam's market share of smartphone exports to the US will double from 9% to 18%.